ISLAMIC FINANCE

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COURSE OVERVIEW

Islamic finance is a rapidly growing industry that offers an alternative to conventional finance. This course provides an in-depth understanding of the principles, products, and practices of Islamic finance, equipping participants with the knowledge and skills to navigate this dynamic and rapidly evolving field.

COURSE OBJECTIVES

By the end of this course, attendees will be able to:

Explain the fundamental principles and concepts of Islamic finance
Evaluate the Shariah compliance of financial products and services
Analyze the different types of Islamic banking products and their applications
Assess the Shariah governance framework and its role in Islamic finance
Develop strategies for managing risks in Islamic financial institutions
Integrate ethical considerations into the design and implementation of Islamic financial solutions

TARGET COMPETENCIES

Islamic Finance Principles
Shariah Compliance
Islamic Banking Products
Shariah Governance
Risk Management
Ethical Considerations

Banking Professionals
Finance Managers
Investment Analysts
Risk Management Officers
Business Students

This course utilizes a combination of lectures, case studies, group discussions, and hands-on exercises. Participants will engage in practical applications of Islamic finance principles, using real-world scenarios to enhance their understanding and skills. Interactive sessions and simulations will reinforce theoretical concepts and their practical implementation.

ISLAMIC FINANCE PRINCIPLES

• Definition and history of Islamic finance
• Shariah law and its application in finance
• Prohibition of interest (riba) and its implications
• Profit-and-loss sharing (Mudarabah and Musharakah) principles
• Asset-backed financing and Sukuk.

SHARIAH COMPLIANCE IN FINANCE

• Compliance Principles
• Compliance Implementation in Islamic Finance
• Responsible finance implementation
• Shariah screening and compliance processes
• Accounting and reporting standards for Islamic finance
• Challenges and considerations in Shariah compliance.

ISLAMIC BANKING PRODUCTS

• Deposit products (Wadiah, Mudarabah, Qard)
• Financing products (Murabahah, Ijarah, Istisna’, Diminishing Musharakah)
• Trade finance instruments (Murabahah, Salam, Istisna’)
• Treasury and capital market products (Tawarruq, Wa’d, Sukuk)

SHARIAH GOVERNANCE

• Shariah governance framework and its components
• Roles and responsibilities of the Shariah Supervisory Board
• Shariah compliance review and audit processes
• Shariah governance standards and guidelines
• Challenges and best practices in Shariah governance

RISK MANAGEMENT IN ISLAMIC FINANCE

• Unique risks in Islamic finance (Shariah non-compliance, asset-backed risks)
• Risk identification, assessment, and mitigation strategies
• Liquidity management in Islamic financial institutions
• Regulatory requirements and guidelines for risk management
• Role of Takaful (Islamic insurance) in risk management.

ETHICAL CONSIDERATIONS IN ISLAMIC FINANCE

• Social responsibility and environmental sustainability
• Wealth distribution and financial inclusion
• Corporate governance and transparency
• Ethical investment and screening
• Zakat (almsgiving) and its application in Islamic finance.